Taurus, the Swiss Crypto Society for Crypto Technology which counts the Deutsche Bank among its customers, deploys zero knowledge of knowledge (ZKP) Confidentiality layer for Stablecoins, starting with the USDC of Circle.
The zero knowledge shell of the Taurus for Stablecoins, a way to secretly share details on private data using mathematical evidence, was built on the AZTEC network focused on confidentiality. He continues to work on improvements in ZKP’s confidentiality for security tokens for banks and financial institutions, published by Taurus earlier this year.
Unlike daily stablecoin transactions, the application of ZKP technology means that the sales and transfers are encrypted and only read by authorized parts such as transmitters and regulators. This prevents unauthorized parties from monitoring portfolios, in the opposite investment strategies or physically targeting high -value users, according to a press release on Thursday.
Stablecoins are one of the warmest areas of the crypto right now. A historic bill establishing a legal framework for the issue and monitoring of Stablecoins has recently been adopted by the US Senate. Meanwhile, Stablecoin’s offer has exceeded $ 250 billion, growth of 1200% since 2020.
ZKP technology, which is open source, provides confidentiality on the chain both to the category and safety level of digital transactions, said Taurus.
“We have shown that it is possible to protect the confidentiality and safety of stablescoin users while retaining the characteristics of standard stablescoins,” said Jean-Philippe Aumasson, director of security at Taurus in a press release. “This responds to the concerns that we have heard on several occasions of banks which plan to issue stablescoins, central banks and regulators.”
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